The dollar to naira exchange rate at the parallel market, also known as the black market or Aboki FX, remained under pressure as trading closed on Sunday, January 18.
Findings from Bureau De Change operators in Lagos show that the naira continued to trade weakly against the United States dollar. At the close of business, traders sold the dollar for ₦1,500, while buyers exchanged at ₦1,485.
Market watchers attribute the sustained gap to persistent dollar scarcity and strong demand for foreign exchange across the country. Despite these rates, the Central Bank of Nigeria maintains that the parallel market is not recognised and has advised individuals and businesses to access foreign exchange through official banking channels.
The movement in the dollar to naira exchange rate continues to attract attention from traders, importers and ordinary Nigerians, as fluctuations directly affect prices of goods, services and overall cost of living nationwide.
Dollar to Naira Black Market Rate Today
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Selling Rate | ₦1500 |
| Buying Rate | ₦1485 |
Dollar to Naira CBN Rate Today
| Dollar to Naira (USD to NGN) | CBN Rate Today |
| Highest Rate | ₦1420 |
| Lowest Rate | ₦1416 |
Please note that the buy or sell may be different because prices vary.
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